Swiss investment fund supports 20 million USD to develop renewable energy in Vietnam

responsAbility Fund (Switzerland) continues to provide a loan support package worth 20 million USD to the Vietnamese representative - CME Solar Investments (CME) to develop renewable energy projects in our country.

A solar power project installed by CME Solar Company at Hong Hai Foxconn Company - Bac Giang .

The loan financing signing ceremony was held online in Vietnam and Switzerland. This investment is recognized as the largest capital support package of the responsAbility Fund in non-financial organizations in Vietnam by 2023, bringing the total investment capital of the fund in CME to date to 32 million USD.

Previously, the first investment from responsAbility in 2021 was effectively implemented by CME, including a 31.5MWp rooftop solar power project installed at Foxconn factories in Bac Giang and Bac Ninh provinces.

The project has high quality, fast implementation progress when completed in just 3 months and applies advanced technologies and techniques such as deploying PV N-type solar panels throughout the system, meeting HSE standards...

With the new funding in 2023, CME will continue to implement a range of projects, with a focus on increasing investment and development of commercial and industrial (C&I) solar energy across multiple sectors in Vietnam, including manufacturing, electronics, food, beverage and textiles, while expanding its reach into Southeast Asia.

Mr. Chung Dieu Tuan, CEO of CME, expressed optimism about the market outlook, emphasizing the increasing demand for rooftop solar installations in FDI manufacturing sectors in Vietnam, especially in the electronics/semiconductor, textile and consumer sectors.

With the support of the Government , Mr. Chung Dieu Tuan also affirmed that the growth potential of the rooftop solar energy industry in Vietnam will continue to develop further in the next decade.

With new long-term financing from the responsAbility Fund, CMES aims to install 50MWp of solar power , contributing to reducing 51,200 tons of CO2 emissions per year.

With the electricity generated, customers can earn about 70 thousand REC (Renewable Energy Certificates), contributing to the carbon neutrality goal of the Government and the United Nations, towards a more sustainable and environmentally friendly future.

The $20 million investment in CME is a clear demonstration of the commitment to cooperate in developing sustainable energy, said a responsAbility representative.

Building on the success of the first phase, the Swiss investment fund expressed its belief that a strong partnership can help reduce barriers to green finance, joining hands to contribute to a green, clean and sustainable community.

nhandan.vn